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Frequently asked questions – Using the Buy-Back Cost Estimator tool


What is the Buy-Back Cost Estimator tool?

The Buy-Back Cost Estimator Tool allows you to quickly and easily obtain the approximate cost of the buy-backs you are considering.

It also indicates the approximate service that could be credited to your pension plan for the period or periods bought back.

Who can use the Buy-Back Cost Estimator tool?

The tool is intended for people who are members of the RREGOP or the PPMP and are thinking of applying for one of the types of buy-backs listed below.

The tool is also used by employers and employee or executive associations from the public and para-public sectors.

What types of buy-backs can you estimate with the Back-Back Cost Estimator tool?

The tool allows you to estimate the cost of the types of buy-backs most frequently requested by the members of the RREGOP and the PPMP :

  • absence without pay;
  • parental Leave that started after January 1, 1991;
  • service as a casual employee.

 

Which information do I need to have at hand before using the Buy-Back Cost Estimator Tool?

For a period of absence:

  • current annual pensionable salary;
  • type of absence (absence without pay or parental leave);
  • period of absence;
  • annual pensionable salary of each year concerned by the period of absence (when the tool detects a situation for which it is mandatory);
  • basis of remuneration of your employment;
  • percentage of absence or number of days of absence.

 

For a period of service as a casual employee:

  • current annual pensionable salary;
  • years of service to buy-back;
  • basis of remuneration per calendar year;
  • number of work days to buy back per calendar year.

 

Is the data checked by Retraite Québec?

No, the data you enter are not checked by Retraite Québec. However, the tool performs some validations to ensure that the data provided are coherent (for example, an error message will appear if you indicate that a period of absence ended before having started).

Can the actual cost and recognized service of the buy-back differ from the estimate?

Yes. If you officially apply for a buy-back, it is possible that the actual cost and recognized service of your buy-back will differ from the approximate cost and service indicated in the estimate.

This gap is, for the most part, due to the fact that the actual cost and service of the buy-back established following the study of your file will be based on data confirmed by the employers.

The detailed analysis of your buy-back application will take into account the characteristics of your specific situation. For example, if in the form Application for Buy-Back This link will open in a new window. you requested that the "90-day bank" be taken into account for the buy-back of your period of absence, or if you have been contributing to your pension plan for many years and are close to or have reached the maximum service, these elements, unknown at the time of the estimate, could influence the service to buy-back. Furthermore, other specific situations could apply to you.

In addition, special rules apply in the case of a buy-back of absence. Indeed, the cost of the buy-back of a period of absence under the RREGOP and the PPMP is calculated on different bases depending on whether Retraite Québec receives the buy-back application within 6 months following the end of the period of absence or more than 6 months after the end of the period.

It is important to note that if the approximate cost of the buy-back is calculated by the tool based on the rate expected for applications received within 6 months following the end of the period of absence and that you present your buy-back application to Retraite Québec more than 6 months after the end of that period, the actual cost of the buy-back could differ from the approximate cost estimated by the calculation tool.

Will the results provided by the tool guarantee rights to the person who completes the estimate?

No. The results obtained only indicate that the tool estimated the approximate cost of a buy-back you are considering based on the data entered, as of the date indicated.

The estimate does not guarantee you the right to buy-back the period or periods you indicated.

The detailed analysis of your buy-back application will confirm whether or not you meet the specific terms to be eligible to a buy-back.

Is the protection of personal information guaranteed?

The Buy-Back Cost Estimator Tool is not connected to any database from Retraite Québec. Consequently, you will not be asked to provide any nominal information (name, social insurance number, etc.) to use the tool. The tool is in fact a calculator programmed to provide a result based on certain types of data, based on Retraite Québec’s instructions. Therefore, you can use it in all confidence.

Where can I find more information on the buy-backs of service?

You can obtain details on the buy-backs of service in the following section:

Frequently asked questions - Details regarding the Buy-Backs of Service

Whom should I contact if I have questions about my specific situation?

If you have questions about your specific situation, we invite you to contact:

  • the human resources representative for your employer;
  • your union or your executive’s association;
  • Retraite Québec’s client services.

 

"Help" section for page 1 of the Buy-Back Cost Estimator Tool

Why do I have to provide the name of the pension plan to which I am presently a member, my date of birth and my annual pensionable salary in the estimation tool?

The calculation of the cost of a buy-back varies depending on the pension plan to which you participate on the date of receipt of your buy-back application.

It can also vary according to your age and your annual pensionable salary on the date of receipt of your buy-back application.

We invite you to consult the tariff schedules for certain service buy-backs to obtain further details regarding the cost of various types of buy-backs.

What salary must I enter in the field "Current Annual Pensionable Salary"?

You must enter your annual pensionable salary as of today’s date. It corresponds to the salary range provided for in the work conditions and, consequently, to full-time employment over 26 periods of pay.

In the determination of the pensionable salary, some particular circumstances that may apply to members of the plan must be taken into account.

Why is it possible to obtain an estimate only as of today’s date?

Since your data can change based on the date on which you will apply for a buy-back, we can only provide an estimate as of today’s date.

Can I obtain an estimate of the cost of a buy-back for periods of absence and periods worked as a casual employee at the same time?

Yes.

"Help" section for page 2 of the Buy-Back Cost Estimator Tool

Why am I not able to enter the percentage of absence and the number of days of absence for a period at the same time?

You must provide the details of your period of absence based either on the percentage of absence, or on the number of days of absence. When you fill out one of the fields, the other one will automatically be calculated.

For example, if you enter a period of absence from January 1, 2007 to Decembre 31, 2007 on a basis of remuneration of 260 days and indicate a percentage of absence of 50%, the field "Number of days of absence" will automatically indicate 130 days of absence.

Why is the annual pensionable salary per calendar year not always required?

The calculation method used to determine the cost of the buy-back for a period of absence under the RREGOP and the PPMP varies depending on certain criteria, such as the date of receipt of the application and the years relevant to the period to buy-back. Based on the applying calculation rule, the annual pensionable salary may be required or not to determine the cost of the buy-back.

When the calculation tool detects a situation for which the annual pensionable salary is mandatory, it makes the corresponding field available to allow you to enter that salary.

What is the basis of remuneration of my employment?

The basis of remuneration of 200 days applies to people teaching to elementary and secondary school students.

The basis of remuneration of 260 days applies to any other person who does not meet the definition of a basis of remuneration of 200 days.